Economics Essay

Example Economic growth refers to an increase in real national output.The effects of the growth of the Chinese economy on the Singapore economy can be discussed in terms of the effects on the balance of payments, national output and hence national income, unemployment, inflation and income equity.The body should contain the thrust of the answer, usually comprising a few paragraphs, with each paragraph containing only one main idea.

Example (A Paragraph of the Body) The growth of the Chinese economy may lead to a deterioration in the balance of payments of Singapore.

The balance of payments is a record of all the transactions between the residents of the economy and the rest of the world over a period of time and is made up of the current account and the capital and financial account.

Furthermore, due to the same reason, Singapore’s imports of low value-added goods from China will increase.

When these happen, the current account and hence the balance of payments of Singapore will deteriorate.

For example, the growth of foreign direct investment in Singapore has generally decreased over the last two decades partly due to the growth of the Chinese economy.

Furthermore, due to the same reason, firms in Singapore will increase investments in China.It should also give an overview of the approach in a clear and concise manner.For structured questions, however, an overview of the approach may not be necessary.A list of command words commonly used in the GCE ‘A’ Level Economics paper together with their explanations can be found on Economics Tuition Methodology.Step 5: Make a note of the relevant economic theories and concepts that come to your mind without paying attention to their degree of relevance.Consider the following question: Discuss whether the growth of the Chinese economy would be detrimental to the Singapore economy.The introduction should define the economic terms in the question.The topic sentence is usually, but not always, the first sentence in the paragraph.Sometimes, the topic sentence can be the only sentence in the paragraph if it is self-explanatory.Therefore, the growth of the Chinese economy will lead to a fall in Singapore’s exports of low value-added goods.For example, Singapore’s exports of hard disks have decreased partly due to the growth of the Chinese economy.

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